A growing option: building without signed tenants

Posted :
December 5, 2017

GWL Realty Advisors has $6-billion worth of development across Canada. But until recently, the company had never added to its portfolio by building an office tower on spec – that is, without a single tenant lined up in a prelease agreement.

That is what the company is doing now, though, on a downtown site in Vancouver, where it is tearing down a parkade near the central intersection of Georgia and Granville streets to construct a 33-storey, nearly half-million-square-foot office tower.